Alejandra Guajardo, a multi-talented actress, and model walked across the stage representing El Salvador in the preliminary competition of the Miss Universe 2022 pageant. Her unique costume, adorned with the iconic symbol of Bitcoin (BTC), was a striking visual representation of her individuality and creativity, as well as a nod to the growing mainstream acceptance and adoption of cryptocurrencies.
Miss Universe 2023 Features Bitcoin
Alejandra Guajardo, a competitor from El Salvador for Miss Universe 2023, stunned the audience with her outfit selection on Wednesday. The 71st Miss Universe National Fashion Show’s main Instagram page said that Guajardo entered the stage wearing a costume that represented “the evolution of the Salvadoran money,” noting that Francisco Guerrero created it.
The colón, the dollar bill, the bitcoin icon, and cacao beans are all shown on Miss El Salvador’s official outfit. Cacao was once used as money in El Salvador. From 1892 until the U.S. dollar took its place as El Salvador’s official currency in January 2001, the colón served as the country’s official tender. The main elements of the outfit are gold, silver, and bronze.
Official El Salvador Currency
The nation of Central America is well-liked by those who are familiar with cryptocurrencies. In the year 2021, El Salvador became the first nation to formally recognize Bitcoin as a legal tender.
Cacao seeds were first used by early inhabitants of the nation for payment, and after Spanish colonialism, Spanish macacao coins were used. The economy of the nation is still heavily dependent on silver coinage and coffee beans.
The nation used colonial money, which bore the symbol “,” from 1892 to 2001. Following 2001, the currency was fully dollarized. Up until January 2001, one USD was worth 8.75 colons. After that, the USD was used in all domestic financial transactions.
Bitcoin price changes
During the second period of 2021, which was considered the heyday of cryptocurrencies, El Salvador accepted BTC. Cryptocurrency market capitalization increased dramatically and reached $1 trillion. Market capitalization increased by 67.35% when compared to 2020.
On November 10th, 2021, the BTC reached its All-Time High (ATH) of $68,789.63. BTC is currently trading above $18,000, almost $50,000 behind its all-time high.
Even though Bitcoin’s price has dropped by more than 50% after the law went into force, El Salvador’s President Nayib Bukele has continued to be a strong proponent of the virtual currency. Although it’s not obvious if he played any direct part in Guajardo’s selection of clothing for the pageant, he has been actively involved in supporting several BTC adoption projects.
During the broadcast, the announcer for the pageant said.
“You don’t need a sash to walk around dressed as cash, like El Salvador”
The model’s outfit at the previous competition was intended to demand justice for the ladies who were murdered in El Salvador. In 2022, Bukele started mass arresting individuals to stem the country’s rising crime rate. Since then, the murder rate in El Salvador has decreased by 56%, according to data provided by the Bukele administration.
El Salvador consistently facilitates the use of Bitcoin
El Salvador recently passed its Digital Securities Law, which lays the foundation for strong consumer protections in the cryptocurrency market and signals the country’s openness to those who want to work with Bitcoin, as stated by the National Bitcoin Office
Final Thoughts
The digital asset issue bill that was introduced in November was approved on Wednesday by the Salvadoran parliamentary assembly. It contains a fresh set of rules for the issue of Volcano bonds backed by bitcoin. Bitfinex, which will serve as a technology source for the country’s Volcano token, claims that “this new virtual asset regulatory structure sets the path for its much-awaited Volcano token issuance.” All these events occur to enhance the use and quality of Bitcoin in the country. This will as well add to the growth of the country’s economy and individual businesses.
Ken Emmanuel is a Blockchain Content writer, a Web3 Enthusiast and a Social Media Management Strategist, he likes writing educative contents to help people gain more knowledge and get inspired. The growth of any organization he work with is always his priority. He is a Geographer by profession and loves reading.
